Lakefront Residential Income
For Sale
$467,900
7604 LAKESIDE VILLAGE DRIVE, Falls Church, VA 22042
A renovated two-bedroom, two-bath residence features a private balcony overlooking the lake.
Property Size1,045 SF
Price / SF$447.75
Days on Market48
Property Features for 7604 LAKESIDE VILLAGE DRIVE
General Information
Standard status
Active
Size
1,045 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,656
Amenities
private balcony
wood-burning fireplace
pool
walking trails
community room
Building Details
Building Size
1,045 SF
Year Built
1984
Year Renovated
2022
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Sep 11
Changed: Oct 26
Last Checked: Oct 26 at 3:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Jack Realty Group
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Investment Insights
Based on property information with market context.
This 1,045-square-foot residence has two bedrooms, two full bathrooms, an open living, dining, and kitchen area, and a private balcony facing the lake. Renovations completed in 2022 included the kitchen and both bathrooms. The kitchen has quartz countertops and stainless steel appliances; the living room includes a wood-burning fireplace. The primary bedroom has an ensuite bath and two closets with custom organizers.
The home is in The Cove in Falls Church, with a community pool, walking trails around the lake, and a community room. Providence Rec Center is nearby, with an indoor heated pool, fitness center, and athletic courts. Route 50 and I-495 are also within reach, as are Falls Church City, the Mosaic District, and Tysons Corner.
The home is in The Cove in Falls Church, with a community pool, walking trails around the lake, and a community room. Providence Rec Center is nearby, with an indoor heated pool, fitness center, and athletic courts. Route 50 and I-495 are also within reach, as are Falls Church City, the Mosaic District, and Tysons Corner.
Key Highlights
- 1,045 square feet with two bedrooms and two full bathrooms
- Private balcony with lake views
- 2022 renovations included the kitchen and both bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,642
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$312,840
$312.8K
Cap Rate 7%
$223,457
$223.5K
Cap Rate 9%
$173,800
$173.8K
Market Conditions
NOI Build-Up for 1,045 SF
Gross rent
$30.1K $28.80/SF
− Vacancy
−$1.7K −$1.58/SF
EGI
$28.4K $27.22/SF
− OpEx
−$12.8K −$12.25/SF
NOI
$15.6K $14.97/SF
Area
Fairfax County, VA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$312,840
Cap Rate 7%
$223,457
Cap Rate 9%
$173,800
Alternative Uses
Best Use
Apartment 5plus
$223.5K
$195.5K – $260.7K
NOI $15,642 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.38M
$3.83M – $5.11M
NOI $306,627 @ 7.0% cap · market cap 65.53%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
714
Businesses Nearby
Explore this area
Business Placement
Demographics for 22042, VA
34,638
Population
12,598
Households
2.7
Avg Household Size
37
Median Age
55%
College-Educated
86%
High-School Grad
6.4 sq mi
ZIP Area
5,412
Density / Sq Mi
$135,578
Median Household Income
$60,264
Median Earnings
$2,178
Median Rent
$666,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A renovated two-bedroom, two-bath residence features a private balcony overlooking the lake.
Where is this residential income property located?
The property is located at 7604 LAKESIDE VILLAGE DRIVE Falls Church, VA.
What is the asking price?
The asking price for this property is $467,900.
What are key features of this property?
This property features: 1,045 square feet with two bedrooms and two full bathrooms; Private balcony with lake views; 2022 renovations included the kitchen and both bathrooms
